B. Scott Minerd believes the Federal Reserve has a clear bias toward reducing unemployment and won’t tolerate a severe economic slowdown and predicts that for the near term, we’ll continue to see higher asset prices across the board. He warns that ultimately, the transition and end of Quantitative Easing will be a big challenge, and the longer we wait, it is more likely we will see a very profound and severe impact on the U.S. economy. Griffin fears that people don’t see the real crisis of potential society collapse, with martial law and totalitarianism. He states that people think they’ll be fine if they put enough money away, but no one will be fine because the money will be worthless. Minerd opines that the roadmap shows low-interest rates for a protracted period of time, but eventually the country will come to a crossroads where a decision needs to be made regarding price stability versus keeping the economy moving forward.
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